The Square Foot

Yorkdale Shopping Centre Surpasses $1 Billion in Sales

Yorkdale Shopping Centre announced it has achieved another first by reaching $1 billion in retail sales. Sales from June 2012 to May 2013 have resulted in the shopping centre's most productive year over year performance to date, representing more than $1300 sales per square foot.

Owned by Oxford Properties Group and Alberta Investment Management Corporation (AIMCo), Yorkdale Shopping Centre' sales figures can be attributed to a number of factors including the first-in-Canada labels that the centre attracts and the significant investment put towards multiple expansion efforts.

"We set out to build a world-class retail centre and this sales milestone confirms that we've achieved our goal," said Anthony Casalanguida, General Manager of Yorkdale Shopping Centre. "The sky is the limit for Yorkdale and we are poised for even more dramatic growth with plans for yet another expansion in place. I am confident Yorkdale will reach sales of $2 billion annually by 2018."

"Yorkdale's impressive sales performance is bucking global trends, and puts it in a class on its own," said James Smerdon, Vice President, Director Retail Consulting, Colliers International. "This sales milestone highlights Canada's stable economy, and steady growth in consumer spending, and affirms Yorkdale's position at the forefront of Canadian retail."

Excluding the Fall 2016 Expansion, Yorkdale Shopping Centre has undergone five major renovations since opening in 1964. Yorkdale Shopping Centre completed a $220 million dollar expansion in 2012 and a $110 million dollar expansion in 2005. Since then, the shopping centre has continued to improve its facilities and today serves as the unrivalled gateway for international retailers entering the Canadian market.